Apple Board ‘Derelict in Duty’: Finerman

Thursday, 7 Feb 2013 | 5:36 PM ET
Einhorn Sues Apple With Eye on Cash
Insight on Apple's cash hoard, with the Fast Money team.

Apple's cash balance has been frustrating for shareholders, and investor David Einhorn could force a change, Karen Finerman of Metropolitan Capital Advisors said Thursday.

"I think we need a very shareholder-oriented shareholder on the board," she said on CNBC's "Fast Money."

Trading Apple's 'Cash Problem'
After investor David Einhorn targets Apple's cash hoard, Walter Piecyk of BTIG joins the "Fast Money" traders on how to trade it.

Finerman reiterated her call for Apple to put their cash on hand to better use than just sitting on its balance sheet.

Earlier in the day, Greenlight Capital founder David Einhorn appeared on CNBC to argue that Apple needed to find a way to distribute its cash to shareholders.

(Read More: Apple Shares Jump After Response to Einhorn Cash Dispute)

Finerman proposed the idea of putting Einhorn on Apple's board of directors.

"I'm saying as a shareholder, it's been unbelievably frustrating to have a board that seems to be derelict in their duty of allocating capital," she said.

(Read More: Apple Stock Level to Watch: Pete Najarian)

"They've done an outstanding, extraordinary job of building a great company. They've done a horrible job of being allocators of capital."

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